A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities.
The new report was conducted by research firm Mustel Group for Sotheby’s International Realty Canada and surveyed 2,000 Canadian adults between the ages of 18 and 77 in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan Areas (CMAs).
It found a high level of confidence in future real estate performance, with 60 per cent of respondents believing that a home or residential real estate purchase will perform the same or better than their other financial investments over the next 10 years.
While that figure reflects optimism about the market in the long term, the survey also found that almost half of respondents (49 per cent) believe that a home or residential real estate purchase will perform the same or better than